I have received an Intra state supply of Accounting services (Rs 5000/-) from an Unregistered Dealer (URD) and payment was via NEFT.
No other goods or services were received from any URD on the same day.
The receipt of services FROM unregistered supplier, valued upto Rs.5000/- is exempt from GST. Therefore, you need not pay any tax under reverse charge. However, in case you have purchased goods/services from some other supplier and the total value exceeds Rs. 5000/- (including the value of supplies from the first supplier) on a day,then the exemption is not applicable and you would be required to pay GST under reverse charge mechanism on the whole value and take credit of the same.
1. It's not exempted. The Accounting services is Taxable. Also your one day expenses exeed Rs. 1 + that 5000. RCM ll atracted.
2. The self invoice is not Issued purpose. It's only for your accounting Purpose. You can get Sign in A voucher mode or Banking Transactions..
3. In GSTR 3B "3.1 (d) and GSTR 2 "4B"
Sir, thank you for confirming that this supply is exempt.
I don't have an Invoice from the URD.
a) How to account this supply? Do we raise self invoice?
b) Does this supply need to be accounted in any GST Returns? If yes please specify the Return name & Tile Heading.
Raja Sir,
Thank you for your reply. I was replying to Mr Singla as your reply got posted.
You have correctly pointed out that Supply of Accounting Services is taxable.
Am a little confused.
I understand limit for Local URD purchases was "upto Rs 5000" per day. So I have not breached this limit for RCM.
Even if I purchased from URD , stationery or any goods for sale, within this Rs 5000 per day limit, they must escape RCM, even if they are taxable supplies.
So no tax would be paid by me on this transaction?
| Originally posted by : SKumar | ||
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Sir, thank you for confirming that this supply is exempt. I don't have an Invoice from the URD. a) How to account this supply? Do we raise self invoice? b) Does this supply need to be accounted in any GST Returns? If yes please specify the Return name & Tile Heading. |
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Once againi reply "It's not exempted"... It's under ceiling limit. Then you dont CALCULTE TAX ON THE EXPENSE.
1. Yes. You can. Just you can pass a JV and take A print out that's enough.
2. It's under 5k limit then no need shown anywhere...
You can follow the limit (5K) then no need pay tax under RCM except GTA and Notified RCM transactions...
Well noted Sir. Thank you.
You are most welcome Dear
CAclubindia
